Egypt’s SFD, IDWB Ink EGP50mn Finance Deal Tomorrow

Egypt’s Social Fund for Development (SFD) will sign tomorrow a funding contract worth EGP50 million with the Industrial Development and Workers Bank (IDWB), senior sources with knowledge of the talks said.

IDWB’s portfolio of financing small and medium projects had reached around EGP 600 million at the end of September 2014, compared to EGP500 million in 2013.

In a previous statements, Hamdi Azzam – Executive Board Member at IDWBE – referred to his bank’s ongoing negotiations with SFD, aiming to obtain finance worth EGP 200 million within 2015.